GlobalData
Deal activity in tourism sector down by 2% in February 2022: GlobalData
A total 96 deals— comprising mergers and acquisitions (M&A), private equity, and venture financing deals— were announced in the global travel and tourism sector in February 2022
Travel brands need to use this to directly engage with younger consumers
With social media proving to be the most cost-effective and impactful way of directly getting engaged with younger consumers, travel companies have begun to invest time and resources into this space for faster outreach and connection.
London’s tourism industry to see boost from GBP10 million campaign but COVID-19 challenges remain
London’s tourism sector will benefit from the planned multi-million-pound campaign to drive visitors to the city, says GlobalData.
46% of travel app venture financing deals involved ridesharing, rental, or hailing companies in 2021
Out of the 26 travel app venture financing deals in 2021, 46% of them involved ridesharing, rental, or hailing companies, according to GlobalData.
Deal-making activity in travel sector down by 27% in January 2022: GlobalData
Total of 73 deals were announced in the global travel and tourism sector during January 2022, which is a decline of 27% over the 100 deals that were announced in December 2021,
More cruise tourists book direct post pandemic
As a result of the COVID-19 pandemic, cruise bookings have shifted away from intermediaries with cruise tourists opting to book directly with the cruise line rather than through an Online Travel Agent (OTA) or the high street.
Generation Hashtag will be a key driver for niche tourism growth driven by experience economy
According to GlobalData’s recently published report, ‘Niche Tourism, 2022 Update – Thematic Research’, demand for niche tourism holidays and experiences is growing among Generation Hashtag (defined as people born between 1991 and 2005).
Google represents ongoing threat to online travel agencies
COVID-19 had a serious impact on online travel agencies (OTAs), according to GlobalData, which notes that the OTA market value decreased by a gruesome 60.4% year-on-year (YoY) in 2020.
Omicron to deter global economic recovery prospects in 2022
Despite visible green shoots in key macroeconomic indicators in the first half, the emergence of new COVID-19 variant Omicron and its fast spread has made the global economic recovery increasingly uneven towards the tail end of 2021, due to which data and analytics company, GlobalData, has revised down the global economic growth forecast for 2022 from 4.6% in July to 4.5% in December 2021.
Deal activity in tourism up by 9.7% in November 2021
A total of 79 deals (mergers & acquisitions (M&A), private equity, and venture financing) were announced in the global travel and tourism sector during November, which is an increase of 9.7%
Another European ski season could be hanging in the balance
Demand for ski trips in Europe is expected to take a hit this year due to rising COVID-19 cases, according to GlobalData, which notes that these destinations could see reduced footfall as early as December.
Slovenia could become adventure tourism capital of Europe: GlobalData
Slovenia is expected to see inbound tourism rise to 5.7 million arrivals by 2024, a 22% increase on pre-pandemic levels, according to GlobalData
UK air passenger duty cut provides boost for domestic aviation
UK-based domestic airlines will see the reduction in domestic air passenger duty (APD) as a vital boost to the aviation industry, says GlobalData
Indian travellers to be highly sought-after, says GlobalData
Indian tourists will be some of the most desirable travellers, given India’s growing economy, young population and rising middle class, according to GlobalData
Government support is vital for aviation to achieve carbon-neutral goals
Airlines and the wider aviation industry will struggle to meet ambitious carbon neutral targets alone. Governments must act by providing significant investment following COP26 to ensure meaningful action occurs.
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